Global Non-alcoholic RTD beverages Market is valued at approximately USD 702.89 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.66% over the forecast period 2023-2030. Non-alcoholic RTD (Ready-to-Drink) beverages are a type of pre-packaged drinks that do not need any further preparation before consumption. These drinks come in a variety of flavors and compositions and are often packaged in bottles, cans, or cartons. Non-alcoholic RTD drinks include a variety of refreshments and functional drinks, including fruit juices, sports and energy drinks, carbonated soft drinks, and others. The market’s expansion has been attributed to shifting customers preferences from alcoholic drinks to healthier substitutes, the rising number of health-conscious people, and a growing focus on convenience. .
Additionally, the rising inclination of the customer on improving dietary consumption, and drink healthier beverages that contain nutrients such functional waters filled with vitamins and minerals is driving the market demand during the estimated period. According to the International Food Information Council Foundation on Food and Health Research 2021, around 47% of all customers chose food with extra nutrients. Furthermore, the introduction of novel functional bottled waters by beverage manufacturing businesses is also boosting the growth of the non-alcoholic RTD beverage market. For instance, a beverage firm with headquarters in the United States introduced the functional drink Nirvana HMB + Vitamin D3 water in March 2022.. Additionally, the leading market players are concentrating on corporate expansion plans and diversifying their product offerings, and growing consumer preference for non-fermented drinks to drive product demand which is projected to accelerate market growth over the forecasting period. However, Fruit juices, energy drinks, and other non-alcoholic RTD beverages have excessive amounts of sugar, which stifle market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Non-alcoholic RTD beverages Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022. owing to the presence of numerous well-known beverage producers that are based in North America, particularly the United States. Additionally, the rising health-conscious population, high purchasing capacity of the population, and rising consumer preference toward physical and health-related fitness activities are the major factors surging the demand for non-alcoholic RTD beverages in the regional market., Asia Pacific is expected to grow with the fastest CAGR during the forecast period. The regional market is anticipated to be driven by the rising demand for alcohol-free beverages majorly from developing nations like China, India, Thailand, and Malaysia. Key international firms are expanding their operations and distribution facilities in this region as a result of several government measures to improve the manufacturing sector through tax deduction, subsidies, and increased FDI limits. Additionally, customers prefer functional and flavored bottled water compared to carbonated drinks with a lot of sugar because of a change in beverage consumption habits.
Major market player included in this report are:
Keurig Dr. Pepper Inc.
The Coca-Cola Company
Jones Soda Co.
Suntory Beverage & Food Ltd.
Asahi Group Holdings, Ltd.
Red Bull GmbH
Recent Developments in the Market:
Ø In July 2022, PepsiCo, Inc. has approved a deal to purchase land close to Denver International Airport, where it plans to erect a 1.2 billion square foot manufacturing complex. Denver is providing USD 1 billion from its Business Incentive Fund to PepsiCo to build the factory, which will become the company’s largest soda manufacturing facility in the United States.
Ø In February 2022, Nestlé introduced a new Milo product made from plants in Thailand. The new Ready-To-Drink (RTD) drink is made from soy and incorporates the distinct Milo malt flavor to offer a wholesome plant-based substitute.
Ø In February 2022, Jones Soda Co. collaborated with The ICEE Company, a top supplier of dispensed frozen beverage treats with the objective of launching new flavors in the market.
Global Non-alcoholic RTD beverages Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product, Distribution Channel, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Distribution Channel:
Middle East & Africa
Rest of Middle East & Africa